Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________________________________________________________________ FORM 10-Q _______________________________________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition ...

wm technology WM Technology, Inc. Q3 FY22 Quarterly Results November 7, 2022 Disclaimer this presentations provided by informational/processes only and botherested to assistinteneded partision their were eduction with respect by WM The Compony," we', "20"," on the "B-O" Pole" relect be drively and color do collection tres contrastion of the SCC", Novepeentation or dicallarge continues or warantilize, express rimple despress rimpl cicountances will 1014, anyd firse respectives bobblanci, interest haddes, dif ...

Financial Data and Key Metrics Changes - The company reported a revenue growth of 24% year-over-year for Q2 2022, primarily driven by an increase in the paying client base [11][37] - The gross margin rate for Q2 was 93%, consistent with Q1, reflecting investments in new client solutions [42] - Adjusted EBITDA for Q2 was minus $0.6 million, resulting in a first half adjusted EBITDA of minus $1.5 million, falling short of breakeven expectations [48][51] Business Line Data and Key Metrics Changes - The number of paying clients grew by over 30% year-over-year, despite significant churn due to financial challenges faced by clients [23][38] - Average monthly revenue per paying client experienced a mid-single-digit year-over-year decline, offsetting the growth in the number of paying clients [40][54] - The company had to remove nearly 500 clients from the platform or put them on payment plans due to billing issues, primarily affecting clients in California [38][100] Market Data and Key Metrics Changes - The California licensed cannabis market saw a decline of 10% year-over-year in Q2, while the company's California marketplace revenue grew by nearly 10% [41] - The company is planning for a flat to mid-single-digit decline in total revenue for the second half of the year, reflecting ongoing challenges in the market [55][56] Company Strategy and Development Direction - The company is focusing on driving deep client engagement, improving the shopping experience on the Weedmaps marketplace, and expanding the adoption of its software and ad network solutions [22][29] - The strategy includes rigorous cost discipline and preparing for unknowns, with a recent headcount reduction of approximately 10% to create efficiencies [30][36] - The company aims to maintain its position as the platform of choice for cannabis users, retailers, and brands, despite the challenging macro environment [29][64] Management's Comments on Operating Environment and Future Outlook - Management expressed caution for the second half of the year due to inflationary pressures and liquidity challenges faced by clients [14][52] - Despite current challenges, management remains optimistic about long-term growth opportunities, particularly in emerging markets like New York and New Jersey [31][57] - The company is not assuming material revenue contributions from new markets this year, as visibility on license issuance remains unclear [57][60] Other Important Information - The company ended Q2 with $48 million in cash and is comfortable with its liquidity position, indicating no immediate need for outside capital [50] - The company is actively engaging in international markets, with a focus on Canada and potential opportunities in the EU and Mexico [78][79] Q&A Session Summary Question: Monthly paying clients and M&A impact - The company added about a couple of hundred clients via M&A, with the balance being organic growth despite churn [69] Question: ARPU assumptions for the back half - The company expects pressure on revenue per client due to client financial health challenges, offset by growth in paying clients [72][74] Question: Updates on international market - The company is engaging in international markets, with progress in Canada and slow developments in the EU [78][79] Question: Linear performance within the quarter - The company noted that performance tracked with California gas prices, with strong retention early in the quarter but challenges later on [83][86] Question: Transparency on removed clients - The 500 clients removed from the platform were a mix of those unpublished and those on payment plans, with the majority being California-based [100][104] Question: Legislative changes in California - Recent legislative changes include a reduction in state tax on cannabis and grants to local governments to encourage licensing [93][96]

wm technology WM Technology, Inc. Q2 FY22 Quarterly Results August 9, 2022 Disclaimer This presentation is provided for informational purposes only and has been prepared to assist interested parties in making their own evaluation with respect to WM Technology, Inc. ("WM", the "Company", "we", "us", "our") and for no other purpose. References in this presentation to the "10-Q" refer to the 10-Q for the quarter ended June 30, 2022 to be filed with the Securities and Exchange Commission (the "SEC"). No represe ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________________________________________________________________ FORM 10-Q _______________________________________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition peri ...

WM Technology, Inc. (NASDAQ:MAPS) Q1 2022 Earnings Conference Call May 4, 2022 5:00 PM ET Company Participants Tim O'Shea - Director of Investor Relations Chris Beals - Chief Executive Officer Arden Lee - Chief Financial Officer Conference Call Participants Tom Champion - Piper Sandler Andrew Carter - Stifel Pablo Zuanic - Cantor Fitzgerald Luke Morison - Canaccord Operator Good day, good afternoon, everyone, and welcome to WM Technology Inc.'s First Quarter 2022 Earnings Conference Call. At this time, all ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________________________________________________________________ FORM 10-Q _______________________________________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition per ...

wm technology WM Technology, Inc. Q1 FY22 Quarterly Results May 4, 2022 Disclaimer This presentation is organisation is organs only and flacbeen prepered to assistinterested parties in malinar ther overeyalation with responses (*M) Technology, Inc." WW, References in this prosestation to the "D-C" refer to the 0-2 for the quarter ended Mach 131, 2022 to befiled with the Securities ond Ecchange Commision (the "SEC") No re this presentation TT o the Ulest soctanted by law in no circumstrosewill WA A any of fo ...

User Metrics - As of December 31, 2021, WM Technology, Inc. had 15.7 million monthly active users (MAUs) on its Weedmaps marketplace, an increase from 10 million MAUs in 2020[273]. - Monthly Active Users (MAUs) reached 15.7 million as of December 31, 2021, a 57% year-over-year increase from 10 million in 2020[297]. Financial Performance - The company generated revenues of $193.1 million in 2021, up 19.3% from $161.8 million in 2020[279]. - Net income for 2021 was $152.2 million, a significant increase from a net income of $38.8 million in 2020[279]. - Average monthly revenue per paying client rose to $3,711 in 2021, compared to $3,256 in 2020, reflecting a 13.9% increase[279]. - Average monthly paying clients increased to 4,337 in 2021, up from 4,140 in 2020[279]. - Monthly net dollar retention averaged 101% in 2021, indicating strong revenue growth from existing clients[302]. - Total revenues for the year ended December 31, 2021, increased by $31.4 million, or 19%, compared to 2020, driven by a 14% increase in average monthly revenue per paying client and a 5% increase in monthly average paying clients[327]. - The company reported a net income of $152.2 million for the year ended December 31, 2021, compared to a net income of $38.8 million in 2020[326]. Expenses and Costs - Adjusted EBITDA for 2021 was $31.7 million, down from $42.8 million in 2020, indicating a need for strategic adjustments[287]. - Cost of revenue for 2021 was $7.9 million, a 4% increase from $7.6 million in 2020, with a gross margin of 96%[330]. - Sales and marketing expenses rose by $25.4 million, or 83%, in 2021 compared to 2020, primarily due to increased personnel-related costs of $16.2 million[332]. - General and administrative expenses rose by $46.3 million, or 91%, to $97.4 million for the year ended December 31, 2021, compared to 2020, driven by higher insurance costs and employee-related expenses[338]. - Product development expenses increased by $8.3 million, or 30%, to $35.4 million for the year ended December 31, 2021, compared to 2020, primarily due to increased personnel-related costs[335]. - Depreciation and amortization expenses increased by $0.4 million, or 11%, to $4.4 million for the year ended December 31, 2021, compared to 2020[340]. Business Strategy and Operations - WM Technology, Inc. operates in the U.S. and Canada, with plans to expand its services to other countries where cannabis use is legal[271]. - The company completed two acquisitions in Q3 2021, acquiring Sprout, a CRM platform, and Transport Logistics Holding Company, enhancing its service offerings[313][314]. - The company plans to invest significantly in marketing and expanding business listings to enhance client and consumer experience[312]. - Revenue is generated from subscription offerings, including access to the Weedmaps marketplace and SaaS solutions, with a focus on competitive auction pricing for advertising[316]. - The company aims to capitalize on new cannabis market opportunities as more jurisdictions legalize cannabis for medical and adult use[304]. - The company has shifted its marketing strategy towards digital channels, reflecting a broader trend in cannabis advertising[308]. Cash Flow and Liquidity - Cash as of December 31, 2021, was $67.8 million, significantly up from $19.9 million in 2020, following proceeds of approximately $80.0 million from the Business Combination[346]. - Net cash provided by operating activities for the year ended December 31, 2021, was $23.1 million, resulting from net income of $152.2 million[351]. - The company expects to fund near-term capital expenditures from cash provided by operating activities, indicating a strong liquidity position[346]. - The company anticipates that its existing cash and cash generated from operations will be sufficient to meet anticipated cash needs for at least the next 12 months[346]. - The company recorded a net cash used in investing activities of $30.4 million for the year ended December 31, 2021, compared to $1.3 million in 2020[349]. - Net cash provided by financing activities for the year ended December 31, 2021, was $55.2 million, resulting from net proceeds from the Business Combination of $80.0 million[356]. Tax and Liabilities - As of December 31, 2021, the tax receivable agreement liability was $128.6 million, with expected tax savings of approximately $151.3 million over 15 years from the Business Combination[359]. - As of December 31, 2021, total net deferred tax assets were $152.1 million, with a corresponding TRA liability of $128.6 million[365]. - Future payments on operating leases as of December 31, 2021, were $64.5 million[358].

Financial Performance - Full Year 2021 - Full year 2021 revenue reached $193 million, a 19% increase year-over-year on a reported basis, and a 48% increase for the U S only[5] - Gross profit for full year 2021 was $185 million, with a gross margin rate of 96%, reflecting a 61bps margin expansion year-over-year[5] - Adjusted EBITDA for full year 2021 was $32 million, resulting in a 16% adjusted EBITDA margin rate[5] Financial Performance - Q4 2021 - Q4 2021 revenue was $54 million, a 22% increase year-over-year on a reported basis, and a 39% increase for the U S only[5] - Gross profit for Q4 2021 was $52 million, with a gross margin rate of 96%, reflecting a 70bps margin expansion year-over-year[5] - Adjusted EBITDA for Q4 2021 was $4 million, resulting in a 7% adjusted EBITDA margin rate[5] Key Metrics - Q4 2021 - Monthly Active Users grew by 57% year-over-year and 13% from the prior quarter[5] - Average Monthly Revenue per Paying Client declined by 1% year-over-year on a reported basis but grew by 9% year-over-year for the U S only[5] - Average Monthly Paying Clients grew by 23% year-over-year on a reported basis and 27% year-over-year for the U S only[5] Full Year 2022 Guidance - Full year 2022 revenue guidance is $255 million to $265 million, implying a 32% to 37% growth[26] - Full year 2022 Adjusted EBITDA guidance is $15 million to $20 million, implying a 6% to 8% margin[26]